Shitcoin

The Role of Bitcoin Maximalism with Udi Wertheimer


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https://www.whatbitcoindid.com/podcast/the-role-of-bitcoin-maximalism

Udi Wertheimer is an independent developer and consultant, and an active member of Bitcoin’s Twitterverse. In this interview, we discuss the evolved status and definition of Bitcoin maximalism, what success for Bitcoin means, and how Bitcoiners should interact with crypto investors.

THIS EPISODE’S SPONSORS:
Gemini – https://www.gemini.com/
Cake Wallet – https://cakewallet.com/
BlockFi – https://blockfi.com/peter
Pacific Bitcoin – http://pacificbitcoin.la/
Ledger – https://www.ledger.com/
Compass Mining – https://compassmining.io/
BCB Group – https://hubs.ly/Q011cb730

TIMESTAMPS:
00:00:00 Introduction
00:09:24 Bitcoin’s core strengths and what success for Bitcoin means
00:21:29 The rejection of altcoins
00:30:14 Moral imperative to promote good money; what is a shitcoin?
00:37:50 Building on Bitcoin
00:46:08 Is maximalism a culture war?
00:54:56 The purpose of Bitcoin maximalism
01:05:50 Should Bitcoin be a greater part of the digital economy?
01:17:00 How do we bridge the divide?

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#Bitcoin #Finance #Economics

****

“I don’t know if it relates to the whole block size war thing in 2017, I don’t know if it’s something else, but we changed the focus. The focus is not really on Bitcoin anymore. It’s on all the things that Bitcoin isn’t.”
— Udi Wertheimer

Udi Wertheimer is an independent developer and consultant, and an active member of Bitcoin’s Twitterverse. In this interview, we discuss the evolved status and definition of Bitcoin maximalism, what success for Bitcoin means, and how Bitcoiners should interact with crypto investors.

– – – –

Nearly 2 years ago I interviewed Udi to discuss Bitcoin, Ethereum and maximalism. He’s an important voice as, whilst being a Bitcoin advocate, Udi also provides valid critical analysis. As the merits and risks of Bitcoin maximalism are again at the forefront, it is valuable to hear his current views. The fundamental issue is whether maximalism is a net positive or negative for #Bitcoin.

The difficulties start with defining maximalism, and what unique utilities of Bitcoin maximalists are to coalesce behind. Is it a movement to protect the technical development of Bitcoin i.e. protecting monetary policy, protecting the protocol?

Or is maximalism a cultural phenomenon predicated on developing a moral framework that seeks to provide refuge from more brutal capitalist behaviours? Does maximalism need to be unrelenting in its dismissal of other developments within crypto for the purposes of protecting green retail investors from scams? When, if ever, does defence need to become attack?

Maximalism has served as a moral check on the development of Bitcoin. Adherents are right to treat manifestations of the status quo with suspicion. However, there is a delicate line to be taken. History is littered with examples of principled movements being radicalized into counter productive factions.

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44 Comments

  1. No smart money would invest in one thing. I think you should have a good Risk Management Portfolio. I think you should be diverisifed across (Stocks, Bonds, Index Funds, Metals, ETF's, Crypto, Cash, Real Estate, Business) But a Bitcoin Maxi would say get rid of it all and your chairs for bitcoin.

  2. Udi is right. Maximalism is failing and needs to double down on toxicity to succeed.

  3. Udi understands and explains the nuance I this subject really well. Good pod.

  4. Whilst I'm in favour of discussing different perspectives and 'non-maxi' guests, I didn't feel Udi added much of value here.

  5. can you have someone on from the Trail of Bits team that released the report "Are Blockchains Decentralized". You had a nice conversation about maximalism, and i would really enjoy the same kind of open dialogue with one of their researchers.

  6. Maxis are a necessary evil. Newbs will experiment with other coins because the price of Bitcoin in intimidating, and they don't have the technical comprehension to understand that sh!tcoins are centralized securities that offer "pie in the sky" paradigms, while actually just replicating the fiat system.

  7. Pete talking about not hurting btc but still churning out the shitcoin hate just casually without even thinking about it, and been doing his best to talk down at anyone who isn't only bitcoin for years….. funny. It's just obnoxious.

  8. Lol dude is a straight up snake/scammer. Hard to have an honest discussion with a dishonest person

  9. Thanks guys, made me feel like a missionary in two worlds. The old and new maybe even "Number go up!' world!

  10. you can tell this gentleman Udi is not a bitcoiner simply by his muddy thinking.

  11. Yes. Max Keiser spent a lot of time saying that Luna was bad and that Celsius was bad. And he was right.

  12. This episode was terrible. The introduction was very meandering and esoteric. Felt more like a wagon-circling semantics debate than digging into anything substantive. This pod was better when it did less episodes versus trying to rapid fire upload as many episodes as possible, despite the quality of the content.

  13. The secret of the future is hidden in your daily routine. Crypto and forex trading is the future.

  14. Peter you should be uploading short clips of the interviews. So much messages maximalist need to listen… and in general helps to spread the message. And pomp does it, bastard! 😂

  15. The fact that the other coins get a crapload of adoption can easily be explained away by the huge venture capital behind them, the economic incentive to build a new coin, and the massive advertising campaigns these shitcoiners have.

    Bitcoin is moving at a normal, sane pace because it doesn’t have any of this shit

  16. I usually don’t comment but what you said about getting people criticising you for being open minded reminded me of the old “silent minority…” adage, so here I go:

    Great conversation, appreciate the balanced, reflective and truth-seeking thoughts!

    Keep up the good work!

  17. He makes statements without any data or reasoning. "Bitcoin isn't growing in popularity as fast as other coins". Thats it, no explanation or data bo backup his claim.

  18. Not sure why people are hating on Udi, I don't disagree with anything that was said here. I enjoyed the discussion.

  19. Bitcoin Maxis save me from loosing everything i have been accumulating for almost 2 years. If it wasn't for those Maxis, i would've left my coins in Celsius. I owe Bitcoin Maxis a lifetime of gratitude. One of your worst guest Peter. He either doesn't know what is talking about or clearly dishonest and a promoter of scams.

  20. Why we need to care about other peoples financial choices? Let everybody do whatever they want, if theyre stupid they will lose and learn, id they are too risk averse they wont gain much, rinse and repeat

  21. Second warning, we're about to break up.

    I am at war 100% with the people that use their capital to buy altcoins.

    This is a revolution and altcoins are the anti-revolution.

  22. Don't through all NFTs under the bus. The jpeg NFTs ok, there is an argument that they are a scam, but you can do many more things with NFTs.

  23. I don't understand people who are trying to trade… Cross Staking is much more profitable!

  24. the loud bitcoin maxis are not building, they're not educating, they're not evangelizing, they're just holding and waiting for number to go up whilst yelling at people when it doesnt

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